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Capio

OM:CAPIO
Snowflake Description

Moderate growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CAPIO
OM
SEK8B
Market Cap
  1. Home
  2. SE
  3. Healthcare
Company description

Capio AB (publ), through its subsidiaries, provides healthcare services in Europe. The last earnings update was 30 days ago. More info.


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CAPIO Share Price and Events
7 Day Returns
0%
OM:CAPIO
1.8%
SE Healthcare
1.5%
SE Market
1 Year Returns
30.7%
OM:CAPIO
14.3%
SE Healthcare
0.1%
SE Market
CAPIO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Capio (CAPIO) 0% 0% 10.9% 30.7% 6.2% -
SE Healthcare 1.8% 1.6% 3% 14.3% 20.8% 134.3%
SE Market 1.5% 0.4% -7.6% 0.1% 14.9% 71.8%
1 Year Return vs Industry and Market
  • CAPIO outperformed the Healthcare industry which returned 14.3% over the past year.
  • CAPIO outperformed the Market in Sweden which returned 0.1% over the past year.
Price Volatility
CAPIO
Industry
5yr Volatility vs Market

CAPIO Value

 Is Capio undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Capio to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Capio.

OM:CAPIO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year SE Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OM:CAPIO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SE Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 9.3%
Healthcare Unlevered Beta Simply Wall St/ S&P Global 0.41
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.411 (1 + (1- 22%) (58.85%))
0.6
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.68% + (0.8 * 9.32%)
8.14%

Discounted Cash Flow Calculation for OM:CAPIO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Capio is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

OM:CAPIO DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (SEK, Millions) 227.71 240.05 253.06 266.78 281.24
Source Est @ 5.42% Est @ 5.42% Est @ 5.42% Est @ 5.42% Est @ 5.42%
Present Value
Discounted (@ 8.14%)
210.57 205.29 200.13 195.10 190.20
Present value of next 5 years cash flows SEK1,001.29
OM:CAPIO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= SEK281.24 × (1 + 0.68%) ÷ (8.14% – 0.68%)
SEK3,798.52
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= SEK3,798.52 ÷ (1 + 8.14%)5
SEK2,568.95
OM:CAPIO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= SEK1,001.29 + SEK2,568.95
SEK3,570.24
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK3,570.24 / 141.16
SEK25.29
OM:CAPIO Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK25.29
Current discount Discount to share price of SEK57.90
= -1 x (SEK57.90 - SEK25.29) / SEK25.29
-128.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Capio is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Capio's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Capio's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OM:CAPIO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in SEK SEK2.13
OM:CAPIO Share Price ** OM (2018-11-28) in SEK SEK57.9
Sweden Healthcare Industry PE Ratio Median Figure of 10 Publicly-Listed Healthcare Companies 17.11x
Sweden Market PE Ratio Median Figure of 316 Publicly-Listed Companies 15.5x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Capio.

OM:CAPIO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:CAPIO Share Price ÷ EPS (both in SEK)

= 57.9 ÷ 2.13

27.24x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Capio is overvalued based on earnings compared to the SE Healthcare industry average.
  • Capio is overvalued based on earnings compared to the Sweden market.
Price based on expected Growth
Does Capio's expected growth come at a high price?
Raw Data
OM:CAPIO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.24x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
23.5%per year
Sweden Healthcare Industry PEG Ratio Median Figure of 6 Publicly-Listed Healthcare Companies 1.3x
Sweden Market PEG Ratio Median Figure of 230 Publicly-Listed Companies 1.05x

*Line of best fit is calculated by linear regression .

OM:CAPIO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.24x ÷ 23.5%

1.16x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Capio is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Capio's assets?
Raw Data
OM:CAPIO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in SEK SEK41.25
OM:CAPIO Share Price * OM (2018-11-28) in SEK SEK57.9
Sweden Healthcare Industry PB Ratio Median Figure of 10 Publicly-Listed Healthcare Companies 2.24x
Sweden Market PB Ratio Median Figure of 544 Publicly-Listed Companies 2.38x
OM:CAPIO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:CAPIO Share Price ÷ Book Value per Share (both in SEK)

= 57.9 ÷ 41.25

1.4x

* Primary Listing of Capio.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Capio is good value based on assets compared to the SE Healthcare industry average.
X
Value checks
We assess Capio's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Healthcare industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Healthcare industry average (and greater than 0)? (1 check)
  5. Capio has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CAPIO Future Performance

 How is Capio expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
23.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Capio expected to grow at an attractive rate?
  • Capio's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Capio's earnings growth is expected to exceed the Sweden market average.
  • Capio's revenue growth is positive but not above the Sweden market average.
Annual Growth Rates Comparison
Raw Data
OM:CAPIO Future Growth Rates Data Sources
Data Point Source Value (per year)
OM:CAPIO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 23.5%
OM:CAPIO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 4.3%
Sweden Healthcare Industry Earnings Growth Rate Market Cap Weighted Average 17.6%
Sweden Healthcare Industry Revenue Growth Rate Market Cap Weighted Average 8.2%
Sweden Market Earnings Growth Rate Market Cap Weighted Average 10.2%
Sweden Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OM:CAPIO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OM:CAPIO Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 17,917 491 1
2019-12-31 17,140 420 1
2018-12-31 16,534 306 1
OM:CAPIO Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2018-09-30 16,228 745 300
2018-06-30 15,867 838 347
2018-03-31 15,569 781 342
2017-12-31 15,327 756 370
2017-09-30 14,975 721 350
2017-06-30 14,688 725 391
2017-03-31 14,380 880 434
2016-12-31 14,069 798 404
2016-09-30 13,856 668 392
2016-06-30 13,743 717 387
2016-03-31 13,611 279 243
2015-12-31 13,486 253 194

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Capio's earnings are expected to grow significantly at over 20% yearly.
  • Capio's revenue is expected to grow by 4.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OM:CAPIO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Capio Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:CAPIO Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 3.48 3.48 3.48 1.00
2019-12-31 2.97 2.97 2.97 1.00
2018-12-31 2.17 2.17 2.17 1.00
OM:CAPIO Past Financials Data
Date (Data in SEK Millions) EPS *
2018-09-30 2.13
2018-06-30 2.46
2018-03-31 2.42
2017-12-31 2.62
2017-09-30 2.48
2017-06-30 2.77
2017-03-31 3.07
2016-12-31 2.86
2016-09-30 2.78
2016-06-30 2.74
2016-03-31 1.77
2015-12-31 1.45

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Capio is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Capio's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Sweden market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Sweden market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Capio has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CAPIO Past Performance

  How has Capio performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Capio's growth in the last year to its industry (Healthcare).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Capio has delivered over 20% year on year earnings growth in the past 5 years.
  • Capio's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Capio's 1-year earnings growth is negative, it can't be compared to the SE Healthcare industry average.
Earnings and Revenue History
Capio's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Capio Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:CAPIO Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 16,228.00 300.00 2,026.00
2018-06-30 15,867.00 347.00 1,980.00
2018-03-31 15,569.00 342.00 1,936.00
2017-12-31 15,327.00 370.00 1,905.00
2017-09-30 14,975.00 350.00 1,863.00
2017-06-30 14,688.00 391.00 1,805.00
2017-03-31 14,380.00 434.00 1,771.00
2016-12-31 14,069.00 404.00 1,728.00
2016-09-30 13,856.00 392.00 1,660.00
2016-06-30 13,743.00 387.00 1,635.00
2016-03-31 13,611.00 243.00 1,592.00
2015-12-31 13,486.00 194.00 1,564.00
2015-09-30 13,426.00 -10.00 1,571.00
2015-06-30 13,391.00 -71.00 1,577.00
2015-03-31 13,307.00 23.00 1,598.00
2014-12-31 13,200.00 -5.00 1,611.00
2013-12-31 12,420.00 53.00 1,554.00
2012-12-31 10,417.00 -361.00 1,349.00
2011-12-31 9,855.00 -225.00 1,235.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Capio has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Capio used its assets less efficiently than the SE Healthcare industry average last year based on Return on Assets.
  • Capio's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Capio's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Healthcare industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Capio has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CAPIO Health

 How is Capio's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Capio's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Capio's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Capio's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Capio's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Capio Company Filings, last reported 1 month ago.

OM:CAPIO Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 5,845.00 4,810.00 222.00
2018-06-30 5,963.00 4,442.00 469.00
2018-03-31 6,037.00 4,285.00 477.00
2017-12-31 5,756.00 4,035.00 285.00
2017-09-30 5,533.00 3,936.00 175.00
2017-06-30 5,587.00 3,970.00 349.00
2017-03-31 5,624.00 3,491.00 178.00
2016-12-31 5,472.00 3,252.00 323.00
2016-09-30 5,386.00 3,285.00 77.00
2016-06-30 5,265.00 3,097.00 99.00
2016-03-31 5,160.00 3,087.00 22.00
2015-12-31 5,001.00 3,111.00 120.00
2015-09-30 4,950.00 3,409.00 132.00
2015-06-30 4,832.00 4,056.00 235.00
2015-03-31 4,182.00 3,946.00 487.00
2014-12-31 4,180.00 4,036.00 583.00
2013-12-31 4,115.00 5,616.00 209.00
2012-12-31 3,709.00 5,283.00 97.00
2011-12-31 4,198.00 4,678.00 546.00
  • Capio's level of debt (82.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (137.8% vs 82.3% today).
  • Debt is not well covered by operating cash flow (15.5%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.2x coverage).
X
Financial health checks
We assess Capio's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Capio has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CAPIO Dividends

 What is Capio's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.64%
Current annual income from Capio dividends. Estimated to be 1.66% next year.
If you bought SEK2,000 of Capio shares you are expected to receive SEK33 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Capio's pays a lower dividend yield than the bottom 25% of dividend payers in Sweden (1.96%).
  • Capio's dividend is below the markets top 25% of dividend payers in Sweden (4.97%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OM:CAPIO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Sweden Healthcare Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 1.6%
Sweden Market Average Dividend Yield Market Cap Weighted Average of 241 Stocks 3.7%
Sweden Minimum Threshold Dividend Yield 10th Percentile 1.1%
Sweden Bottom 25% Dividend Yield 25th Percentile 2%
Sweden Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OM:CAPIO Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.04 1.00
2019-12-31 0.89 1.00
2018-12-31 0.96 1.00
OM:CAPIO Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2018-05-03 0.950 1.964
2017-05-03 0.900 2.001
2016-04-06 0.500 1.061

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Capio has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Capio only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of Capio's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.9x coverage).
X
Income/ dividend checks
We assess Capio's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Capio afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Capio has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CAPIO Management

 What is the CEO of Capio's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Attila Vegh
AGE 42
TENURE AS CEO 0.1 years
CEO Bio

Mr. Attila Vegh serves as President & CEO at Capio AB (publ) since October 01, 2018. He was Chief Executive Officer of Penta Hospitals International, the leading hospital chain in Central and Eastern Europe. He has a wide range of experience combined with a dedication to manage change and transformation in clinical environments, both in the private and the public sector. Mr. Vegh is a trained doctor with a proven track record as a CEO. He was Chief Executive Officer of University Hospitals of South Manchester and Chief Executive Officer at Cambridgeshire and Peterborough Foundation Trust in the United Kingdom. Prior to his CEO roles, he spent five years at McKinsey & Company, leading the transformation programs of large hospital groups across Europe, US and Asia. In addition to his medical training, he also holds a Ph.D in Molecular Cancer Research from the University of Paris and an MSc in Health Management from Imperial College London.

CEO Compensation
  • Insufficient data for Attila to compare compensation growth.
  • Insufficient data for Attila to establish whether their remuneration is reasonable compared to companies of similar size in Sweden.
Management Team Tenure

Average tenure and age of the Capio management team in years:

3.8
Average Tenure
53.5
Average Age
  • The tenure for the Capio management team is about average.
Management Team

Attila Vegh

TITLE
President & CEO
AGE
42
TENURE
0.1 yrs

Olof Bengtsson

TITLE
Chief Financial Officer
AGE
57
TENURE
5.8 yrs

Kristina Ekeblad

TITLE
Investor Relation Manager

Henrik Brehmer

TITLE
Senior Vice President of Group Communication & Public Affairs
AGE
54
TENURE
6.3 yrs

Francois Demesmay

TITLE
Chief Medical Officer
AGE
53
TENURE
1.2 yrs

Britta Wallgren

TITLE
Country President of Sweden
AGE
55
TENURE
1.7 yrs

Martin Reitz

TITLE
Country President of Germany
AGE
54

Philippe Durand

TITLE
Country President of France
AGE
49
TENURE
5.8 yrs

Per Fagermoen

TITLE
Country President of Norway
AGE
39

Linda Wallgren

TITLE
Director of Corporate Communications & Business Area Manager - Capio St Göran's Hospital
Board of Directors Tenure

Average tenure and age of the Capio board of directors in years:

2.5
Average Tenure
59.5
Average Age
  • The average tenure for the Capio board of directors is less than 3 years, this suggests a new board.
Board of Directors

Michael Wolf

TITLE
Chairman of the Board
COMPENSATION
SEK1M
AGE
55
TENURE
1.5 yrs

Gunnar Németh

TITLE
Vice Chairman
COMPENSATION
SEK500K
AGE
66
TENURE
7.8 yrs

Birgitta Göransson

TITLE
Director
COMPENSATION
SEK600K
AGE
61
TENURE
2.5 yrs

Gunilla Rudebjer

TITLE
Director
COMPENSATION
SEK600K
AGE
59
TENURE
1.5 yrs

Kevin Thompson

TITLE
Employee Representative Director
AGE
60
TENURE
8.8 yrs

Julia Turner

TITLE
Employee Representative Director
AGE
62
TENURE
6.8 yrs

Pascale Richetta

TITLE
Director
COMPENSATION
SEK600K
AGE
59
TENURE
2.5 yrs

Michael Flemming

TITLE
Director
COMPENSATION
SEK600K
AGE
61
TENURE
2.5 yrs

Joakim Rubin

TITLE
Director
COMPENSATION
SEK500K
AGE
58
TENURE
1.5 yrs

Hans Ramel

TITLE
Director
COMPENSATION
SEK300K
AGE
54
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • Capio insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
31. Oct 18 Sell Gunnar Németh Individual 26. Oct 18 26. Oct 18 -200,125 SEK58.00 SEK-11,607,250
30. Oct 18 Sell Philippe Durand Individual 26. Oct 18 26. Oct 18 -21,900 SEK58.00 SEK-1,270,200
29. Oct 18 Sell Francois Demesmay Individual 26. Oct 18 26. Oct 18 -17,252 SEK58.00 SEK-1,000,616
29. Oct 18 Sell Philippe Durand Individual 26. Oct 18 26. Oct 18 -69,425 SEK58.00 SEK-4,026,650
28. Oct 18 Sell Olof Bengtsson Individual 26. Oct 18 26. Oct 18 -1,000 SEK58.00 SEK-58,000
27. Oct 18 Sell Hans Ramel Individual 26. Oct 18 26. Oct 18 -441,297 SEK58.00 SEK-25,595,225
28. Oct 18 Sell Britta Wallgren Individual 26. Oct 18 26. Oct 18 -45,433 SEK58.00 SEK-2,635,114
28. Oct 18 Sell Olof Bengtsson Individual 26. Oct 18 26. Oct 18 -81,791 SEK58.00 SEK-4,743,878
26. Oct 18 Sell Henrik Brehmer Individual 26. Oct 18 26. Oct 18 -60,000 SEK58.00 SEK-3,480,000
26. Oct 18 Sell Gunilla Rudebjer Individual 26. Oct 18 26. Oct 18 -6,000 SEK58.00 SEK-348,000
26. Oct 18 Sell Birgitta Göransson Individual 26. Oct 18 26. Oct 18 -3,500 SEK58.00 SEK-203,000
26. Oct 18 Sell Michael Wolf Individual 26. Oct 18 26. Oct 18 -55,000 SEK58.00 SEK-3,190,000
29. Aug 18 Sell Philippe Durand Individual 24. Aug 18 24. Aug 18 -2,657 SEK53.87 SEK-143,133
27. Aug 18 Sell Philippe Durand Individual 24. Aug 18 24. Aug 18 -23,000 SEK53.50 SEK-1,230,599
11. Feb 18 Sell Thomas Berglund Individual 09. Feb 18 09. Feb 18 -200,000 SEK44.00 SEK-8,800,001
11. Feb 18 Buy Thomas Berglund Individual 09. Feb 18 09. Feb 18 200,000 SEK44.00 SEK8,800,001
X
Management checks
We assess Capio's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Capio has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CAPIO News

External News
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Simply Wall St News

What Should Investors Know About Capio AB (publ)'s (STO:CAPIO) Return On Capital?

This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … Thus, to understand how your money can grow by investing in Capio, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

Capio AB (publ) (STO:CAPIO): Time For A Financial Health Check

While small-cap stocks, such as Capio AB (publ) (STO:CAPIO) with its market cap of kr7.27b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Is It The Right Time To Buy Capio AB (publ) (STO:CAPIO)?

saw a significant share price rise of over 20% in the past couple of months on the OM. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s examine Capio’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Will Capio AB (publ) (STO:CAPIO) Continue To Underperform Its Industry?

and want to learn about Return on Equity using a real-life example. … Capio AB (publ) (STO:CAPIO) generated a below-average return on equity of 5.85% in the past 12 months, while its industry returned 10.12%. … An investor may attribute an inferior ROE to a relatively inefficient performance, and whilst this can often be the case, knowing the nuts and bolts of the ROE calculation may change that perspective and give you a deeper insight into CAPIO's past performance.

Simply Wall St -

Does Capio AB (publ) (STO:CAPIO)'s Capital Return Make The Cut?

This is because the actual cash flow generated by the business dictates the potential for income (dividends) and capital appreciation (price increases), which are the two ways to achieve positive returns when buying a stock. … Therefore, looking at how efficiently Capio is able to use capital to create earnings will help us understand your potential return. … Investors use many different metrics but the analysis below focuses on return on capital employed (ROCE).

Simply Wall St -

Capio AB (publ) (STO:CAPIO): What We Can Expect From This Growth Stock

Looking at Capio AB (publ)'s (STO:CAPIO) earnings update in March 2018,. … the higher past 5-year average growth rate of 50.48% … Presently, with latest-twelve-month earnings at kr342.00m, we should see this growing to kr382.88m by 2019.

Simply Wall St -

Calculating The Fair Value Of Capio AB (publ) (STO:CAPIO)

by taking the expected future cash flows and discounting them to today's value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Does The Hype Around Capio AB (publ)'s (STO:CAPIO) Growth Justify Its July Share Price?

Capio AB (publ) (STO:CAPIO) is considered a high-growth stock, but its last closing price of SEK41.55 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … View out our latest analysis for Capio? … One reason why investors are attracted to CAPIO is the high growth potential in the near future

Simply Wall St -

Should Capio AB (publ) (STO:CAPIO) Be Part Of Your Portfolio?

Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. … Capio AB (publ) (STO:CAPIO) has returned to shareholders over the past 2 years, an average dividend yield of 2.00% annually. … Let's dig deeper into whether Capio should have a place in your portfolio.

Simply Wall St -

Does Capio AB (publ)'s (STO:CAPIO) PE Ratio Warrant A Buy?

and want to better understand how you can grow your money by investing in Capio AB (publ) (STO:CAPIO). … Capio AB (publ) (STO:CAPIO) is trading with a trailing P/E of 16x, which is lower than the industry average of 17.6x. … While CAPIO might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions

Simply Wall St -

CAPIO Company Info

Map
Description

Capio AB (publ), through its subsidiaries, provides healthcare services in Europe. The company operates through three segments: Capio Nordic, Capio France, and Capio Germany. The company offers healthcare services in the areas of primary care, somatic and psychiatric specialist care, and emergency care orthopedics, spine surgery, gastrointestinal surgery, and urology, as well as specialist care services in the areas of ear-nose-throat disorders and physiotherapy; bariatric surgery; obstetrics services; inpatient and outpatient care services; cardiology and cardiac surgery; hip and knee replacements; and dermatology and gynecology. It operates 83 locations for primary care, 29 locations for somatic specialist care, 2 local hospitals, 14 locations for psychiatric care, and 1 emergency hospital in Sweden; 8 medical centers and 3 specialist clinics for eating disorders and physiotherapy in Norway; 6 specialist hospitals and 5 radiology units in Denmark; and 5 general hospitals, specialist clinics focused on vein surgery and ophthalmology, and outpatient clinics in France and Germany. The company was formerly known as Capio Holding AB and changed its name to Capio AB (publ) in June 2015. Capio AB (publ) was founded in 1994 and is headquartered in Gothenburg, Sweden. As of October 25, 2018, Capio AB (publ) operates as a subsidiary of Ramsay Générale de Santé SA.

Details
Name: Capio AB (publ)
CAPIO
Exchange: OM
Founded: 1994
SEK8,173,144,371
141,159,661
Website: http://capio.com
Address: Capio AB (publ)
Lilla Bommen 5,
Gothenburg,
Västra Götaland County, 405 22,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM CAPIO Ordinary Shares OMX Nordic Exchange Stockholm SE SEK 30. Jun 2015
DB 2BC Ordinary Shares Deutsche Boerse AG DE SEK 30. Jun 2015
LSE 0R90 Ordinary Shares London Stock Exchange GB SEK 30. Jun 2015
Number of employees
Current staff
Staff numbers
13,657
Capio employees.
Industry
Health Care Facilities
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/29 19:44
End of day share price update: 2018/11/28 00:00
Last estimates confirmation: 2018/11/28
Last earnings filing: 2018/10/30
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.